FOR ONE JOB CREATED IN USA THREE CREATED OVERSEAS

JOBS and ECONOMY

US multinationals create more jobs abroad

US-based multinational companies eliminated1 million jobs from the US workforce between 1999 and 2010 while adding 3.1 million in other countries.  If those companies had kept their domestic hires working instead of laying them off, the US unemployment rate in 2010 would have been 9.0 percent instead of the actual 9.6 percent. 

More details in today’s infographic. Check it out, then weigh in down below. What corporate behavior do you favor?

How do we know? Check the original sources behind the fact:

• US Department of Commerce, Bureau of Economic Analysis: “Summary Estimates for Multinational Companies: Employment, Sales, and Capital Expenditures for 2010”
• US Bureau of Labor Statistics: “Service-providing occupations, offshoring, and the labor market”
• • Federal Reserve Bank of Boston: “Outsourcing Jobs Overseas: A Cause for Concern?”
  • George Washington University: “The global agglomeration of multinational firms”
  • Reshoring Initiative: “Bringing Manufacturing Back Home”
  • American Enterprise Institute: “The Politics and Economics of Offshore Outsourcing”
  • NPR audio: “Offshore jobs play role in campaigns and economy”
  • Soshable Infographic: “Where Did All The American Jobs Go?”